Industrial production in the eurozone fell by 2% in October
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Industrial production in the Eurozone in October decreased by 2% compared to September. Such data today, December 14, published European Statistical Agency (Eurostat). The decline in the EU was 1.9%. At the same time, compared to October 2021, industrial production increased by 3.4% and 3.7%, respectively.
In September, the indicators both in the euro area and in the EU grew. The decline in the euro area in October was more significant than analysts polled by Reuters had expected — they expected a 1.5% decline in production. The decline is primarily due to the fact that some companies are reducing or suspending production due to rising energy prices.
Industrial production in October in France decreased by 2.6%, in Italy – by 1%, in Germany – by 0.9%, in Spain – by 0.4%. At the same time, production increased in some countries, including Lithuania (by 1.1%), Greece (by 0.5%) and Austria (by 0.2%).
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